The Indian equity benchmark indices gained on June 6 Sensex was up 0.01 percent at 62,792.88, and the Nifty was up 0.03 percent at 18,599.00. About 1,934 shares advanced, 1,501 shares declined, and 121 shares remained unchanged.
2/11
J K Cement Ltd. | CMP Rs 3242.85 | JK Cement's share price gained 2 percent in early trade on June 6 as the company announced the acquisition of 100 percent shareholding in Toshali Cements Private Limited at a total cost of Rs 157 crore. The company reported a 45 percent decline in consolidated net profit to Rs 110 crore for the quarter ended March 2023 compared to Rs 199.44 crore in the same period last year. The stock reached a 52-week high of Rs 3,288.90 and a 52-week low of Rs 2,005 on May 30, 2023, and June 23, 2022, respectively.
3/11
Persistent Systems Ltd. | CMP Rs 4981.05 | Persistent Systems' shares dropped 5 percent on June 6, along with the Nifty IT sectoral index, which experienced a downfall of 2.37 percent. The fall was due to weakening demand for IT companies and guidance cut by EPAM Systems, resulting in Nifty IT being the biggest sectoral loser of the day. Persistent Systems was hit the hardest. Analysts at Kotak Institutional Equities have weak expectations for revenue growth in Q1FY24 compared to Q4FY23 due to a poor demand environment among clients and cutbacks in discretionary spending.
4/11
Nelco Ltd. | CMP Rs 718.95 | Shares of Tata Group subsidiary NELCO rose approximately 3 percent to Rs 756 on June 6 after the company entered into an agreement with the promoters and other shareholders of Piscis Networks. NELCO made an initial investment of Rs 99,99,100 to subscribe to 1,111 equity shares of Rs 10 each, representing 9.09 percent of the paid-up capital of Piscis Networks. During the March quarter, consolidated net sales increased by 14 percent YoY to Rs 81.98 crore, while quarterly net profit soared by 87 percent to Rs 5.66 crore.
HBL Power Systems Ltd. | CMP Rs 136 | HBL Power Systems saw a 6 percent surge on June 6 due to growing optimism in the market regarding the deployment of the Kavach System by the government to prioritise rail safety following the Odisha train tragedy. The stock has experienced a two-day streak, with a 10 percent jump on June 5.
6/11
MTAR Technologies Ltd. | CMP Rs 1929.25 | MTAR Tech shares gained nearly 3 percent in morning trade on June 6 after Plutus Wealth Management LLP acquired the precision engineering company at an average price of Rs 1,880.02 per share through open market transactions on June 5. MTAR's Q4FY23 results showed a 57 percent increase in net profit to Rs 31 crore compared to Rs 20 crore in the same quarter of the previous fiscal year. Revenue from operations also doubled to Rs 196 crore from Rs 99 crore in Q4FY22. According to Trendlyne, the consensus target price for the stock is Rs 2,450, representing a 26 percent upside from the current levels.
7/11
Allcargo Logistics Ltd. | CMP Rs 284.40 | Shares of Allcargo Logistics surged 3 percent on June 6 after Transindia Real Estate agreed to divest a 10 percent stake each in five Allcargo subsidiaries and a 100 percent holding in Allcargo Multimodal to Blackstone.
8/11
EKI Energy Services Ltd. | CMP Rs 430.65 | EKI Energy Services' share price climbed 5 percent to Rs 430.65 on June 6 after the company announced the establishment of a wholly-owned subsidiary called EKI Community Development Foundation. However, the stock has faced a significant decline due to concerns raised by Walker Chandiok & Co LLP, the auditor, regarding the accuracy and completeness of its financial statements. EKI Energy Services Ltd. is yet to report its March quarter earnings for FY23.
Capacite Infraprojects Ltd. | CMP Rs 190.65 | Capacite Infraprojects shares rose 6 percent to a new 52-week high of Rs 193.55 on June 6. The surge followed the company's announcement that its board will consider plans to raise funds on June 8. The stock gained momentum with high trading volumes, reaching about 20 lakh shares exchanged on the exchanges. Capacite Infraprojects reported a 34 percent YoY growth in revenue for FY23, with net profit increasing by 95 percent to Rs 94.3 crore.
10/11
BL Kashyap and Sons Ltd | CMP Rs 40.10 | Shares of B L Kashyap and Sons Ltd. soared nearly 9 percent to Rs 40.60 after securing an order worth Rs 147 crore from Nzuri Pune Knowledge Park. With an order book of Rs 2774 crores, the company reported a net loss of Rs 31.93 crore in Q1 2023 compared to a profit of Rs 18.40 crore in the same quarter last fiscal. The stock hit a 52-week high of Rs 43.08 and a 52-week low of Rs 16.85 on May 3, 2023, and June 21, 2022, respectively.
11/11
Sharda Cropchem Ltd. | CMP Rs 556.05 | Sharda Cropchem shares surged over 11 percent to Rs 558, reaching the highest level since July 2022. The breakout from a long consolidation period formed a strong bullish candlestick pattern, with the stock forming higher highs and higher lows for the fifth session. The 50-day EMA crossed above the 200-day EMA in a golden crossover, indicating strong momentum. Analysts predict the stock to surpass Rs 600 on increased volumes.
